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THE FINANCE ACT, 2021
Section 80 in The Finance Act, 2018 [Entire Act]
Patel Engineering Ltd. vs Deputy Commissioner Of Income Tax on 22 June, 2004
In this regard, as
we have already stated, the decision of ACIT vs Bharat Udyog Ltd,
118 ITD 336 and Patel Engineering Ltd vs Dy. CIT, 84 TTJ 646, are
relevant. As per Circular No. 4/2010[F.No. 178/14/2010-ITA-I]
dated 18.5.2010, widening of existing roads constitutes creation
of new infrastructure facility for the purpose of section 80IA(4)(i)
.
The Finance Act, 2017
Bajaj Tempo Ltd. Bombay vs Commissioner Of Income Tax,Bombay ... on 24 April, 1992
Moreover, we are in agreement that in incentive provisions, the
construction should be liberally given as held by the Hon'ble
Supreme Court rendered in the case of Bajaj Tempo Ltd vs CIT,
196 ITR 188. Thus, when the assessee makes investment and
himself executes development work and carries out civil works, he
is eligible for tax benefit u/s 80IA of the Act. Accordingly, with the
foregoing discussion, we hold that the assessee is entitled to
deduction u/s 80IA(4) of the Act, and therefore, we order to
delete the addition made in this respect."
Dy. Cit vs Abg Heavy Industries Ltd. on 8 September, 2006
So in
view of above discussion, following the ratio of jurisdictional
High Court in case of ABG Heavy Industries Ltd. (supra), th e
Assessing Officer is directed to allow deduction u/s.80IA(4) of
the Act to the assessee with regard to the projects in question
for both the years. The matter is disposed off accordingly."
Ayush Ajay Construction Ltd. vs Income-Tax Officer on 20 July, 2000
14. In this background, the assessee could certainly claim the
deductions under the provision of Section 80IA. One has to see
the substance and not the Form Essentially, though it was a
Joint Venture, it was converted into assessee's venture. Th e
Other Venturer withdrew and the entire work was executed by
the assessee though in the name of Joint Venture. The Joint
Venture is nothing but the venture of the assessee company and
the other person not being a party after withdrawing the
question of Joint Venture does not arise. The Venture was fully
carried out by the assessee and it was entirely executed by the
assessee company. Taking the substance of the transaction, the
assessee are entitled to all the profits in respect of the contract
executed by them, hence the assessee would certainly be
entitled to deduction under the provisions of 80IA as they have
fulfilled all the other conditions. This view get strength from
decision in the case of ITAT, Indore Bench, in case of Ayush Ajay
Constructions Ltd. (supra).
Triveni Engineering And Industries ... vs Dcit on 22 November, 2004
In our opinion, the answer to these
question are provided by the judgment of the Bombay High Court
in the case of ABG Heavy Engg Ltd (supra). In this regard, we
perused the above cited para-22 of the said judgment and for the
sake of completeness, the said paragraph is reproduced as under:-